End-Unit Flex
For Sale
$299,000
1291 US HWY 1, Ormond Beach, FL 32174
Commercial Sale, Ormond Beach, FL
Property Size2,016 SF
Lot Size0.02 Acres
Price / SF$148.31
Days on Market22
Property Features for 1291 US HWY 1
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Directions
North on US 1 from Granada Blvd to Ormond Commerce Park to building 1291 unit 7 on left. Located two miles south of the I-95/US-1 Interchange on US Highway 1.
Subdivision
46 - Ormond N of Tomoka River, E of US1
Standard status
Active
APN
4206-08-00-3070
Size
2,016 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 307 AMENDMENT TO ORMOND COMMERCE PARK CONDO PER OR 6162 PG 2362 PER OR 6162 PG 2379 PER OR 6754 PG 0220 PER OR 8319 PG 3333
Tax Annual Amount
4637
HOA Fee
$308 Monthly
Legal Description
UNIT 307 AMENDMENT TO ORMOND COMMERCE PARK CONDO PER OR 6162 PG 2362 PER OR 6162 PG 2379 PER OR 6754 PG 0220 PER OR 8319 PG 3333
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
2
Number of units
1
Flooring type
Concrete, Wood, Tile
Building materials
Block, Concrete, Stucco
Roof type
Metal
Listing Agency:
RE/MAX Select Professionals
(386) 283-4966
Listed By:
Pamela Capela · License #BK3195780
(386) 283-4966
Added: Aug 11
Changed: Aug 24
Last Checked: Sep 1 at 9:06PM
MLS# 1229544
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,016-square-foot end-unit commercial condominium was built in 2007 and is located within Ormond Commerce Park. The property combines a functional interior with wood, tile, and concrete flooring, central air, electric heating, and a metal roof. Block, concrete, and stucco construction, along with public water and public sewer service, support the existing commercial configuration. The layout may accommodate office, flex, warehouse, or light industrial functions, subject to zoning and condominium requirements.
The property fronts US Highway 1 and is approximately 2 miles from Interstate 95, 2.5 miles from Nova Road, and near Destination Daytona. On-site parking is provided through a parking lot, with access to Ormond Beach, Daytona Beach, and the surrounding business area. Any dimensions, permitted uses, zoning matters, and condominium requirements should be verified by the buyer.
The property fronts US Highway 1 and is approximately 2 miles from Interstate 95, 2.5 miles from Nova Road, and near Destination Daytona. On-site parking is provided through a parking lot, with access to Ormond Beach, Daytona Beach, and the surrounding business area. Any dimensions, permitted uses, zoning matters, and condominium requirements should be verified by the buyer.
Key Highlights
- 2,016‑square‑foot end‑unit commercial condominium in Ormond Commerce Park
- Approximately 2 miles from Interstate 95 and 2.5 miles from Nova Road
- Positioned along US Highway 1 near Destination Daytona
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,733
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,660
$454.7K
Cap Rate 7%
$324,757
$324.8K
Cap Rate 9%
$252,589
$252.6K
Market Conditions
NOI Build-Up for 2,016 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.2K $18.96/SF
− Vacancy
−$3.2K −$1.61/SF
EGI
$35.0K $17.35/SF
− OpEx
−$12.2K −$6.07/SF
NOI
$22.7K $11.28/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,660
Cap Rate 7%
$324,757
Cap Rate 9%
$252,589
Alternative Uses
Best Use
Flex RnD
$324.8K
$284.2K – $378.9K
NOI $22,733 @ 7.0% cap · market cap 7.60%
Second Best
Warehouse
$231.6K
$202.7K – $270.2K
NOI $16,214 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$594.4K
$520.1K – $693.5K
NOI $41,610 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Savory Sensations Corporate — 1295 US-1, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained commercial condominium with natural light, practical access, and a layout supporting office or industrial functions.
Where is this flex space located?
The property is located at 1291 US HWY 1 Ormond Beach, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,016‑square‑foot end‑unit commercial condominium in Ormond Commerce Park; Approximately 2 miles from Interstate 95 and 2.5 miles from Nova Road; Positioned along US Highway 1 near Destination Daytona
